Wells Fargo Propel Card Review – Amex Propel

Monica KowollikMarch 5, 2019

Wells Fargo Propel Card

Most people who want a credit card don’t want to have to pay lots of money for said card. This rules out a lot of rewards cards because they come with large fees. However, Amex Propel is a different type of card. The Wells Fargo Propel Card is simple, straightforward, cheap, and yet very rewarding.

So if you’re curious as to what the Wells Fargo Propel American Express card can do for you, you’re in the right place. We’re going to go over the pros and cons of the Wells Fargo Propel card in this article. You’ll know if the Amex Propel Card is a good card for you or not by the end of this post.

Wells Fargo Propel American Express Card Pros

1. Introductory Bonus

The Wells Fargo credit card has an excellent introductory sign-up bonus offer for new members. To reach it, you have to spend $3,000 within the first three months. However, this sign up bonus can be worth it to do this. You’ll earn 30,000 bonus points. This works out to around $300 in redemption value. As long as this aligns with your normal spending habits, it’s worth it.

2. No Annual Fee

This is a rewards card that keeps on giving. The Wells Fargo Propel card comes with absolutely no annual fee. This means that any rewards you earn are yours. You’ll never have to justify keeping this card around. It also removes the pressure that comes with trying to get enough rewards to match the annual fee.

3. Large Rewards Opportunities With the Wells Fargo Propel Card

The Wells Fargo credit card comes with very large rewards opportunities in a lot of categories. For example, you earn three-times the points for ordering out and dining in. You’ll get another three times the points for gas stations and transit. Another three times the points come from travel. This includes airfare, homestays, hotels, and car rentals. It comes with one times the points on everything else.

4. Introductory APR

The introductory APR on this card is another big draw for people looking for a simple but rewarding card. What’s more, it applies to both purchases and balance transfers. You’ll pay zero percent on balance transfers and purchases for the first 12 months. There are balance transfer fees. However, you can even these out with the interest you’ll save.

5. Travel Insurance Options

Travel and auto insurance come with the Wells Fargo Propel card. This is excellent for people who plan to travel. You’ll get travel accident insurance when you book your travel with the Wells Fargo Propel card. It also comes with auto rental insurance. This can help to save you a little money when you rent a car at your destination.

6. Cellphone Insurance

All you have to do to get the cellphone insurance is to pay your bill with Propel Amex card. This allows you to opt into their cellphone insurance. They’ll cover the costs associated with losing, replacing, or damaging your phone. This does have a maximum amount of times you can use it per year though.

7. Zero Fraud Liability

If someone uses your card without your consent, you won’t pay a dime. This card covers cardholders with zero fraud liability. You do have to report this within a set amount of time, but it’s worth it. With all of the fraud that goes on, it gives you peace of mind knowing you’re not liable.

8. No Foreign Transaction Fees

This card is excellent for travel, including international travel. You’ll be able to use your card with non-US banks and not pay extra. There are no foreign transaction fees with this card. This can help you avoid sticker shock when you come back from a vacation. Use your card as much as you want without worry.

9. Free Credit Score

You want an excellent credit score. In order to get this, you have to monitor it. The Wells Fargo Propel card comes with free credit score monitoring. You’ll be able to log in whenever you like. This can help you understand which factors go into your credit score. You’ll also be able to catch fraud faster to mitigate the damage.

10. Wells Fargo Go Far Rewards Portal

Redeeming your rewards is fast and easy with the Wells Fargo Go Far Rewards Portal. It keeps track of your rewards as you earn them. You simply log in and choose how you’d like to redeem. You can redeem them for cash, gift cards, or travel through the portal whenever you’d like.

Wells Fargo Propel American Express Card Cons

1. Variable APR

The APR on this card is variable. This means that it can fluctuate if you miss a payment. The APR starts at 14.74-percent and goes up to 27.24-percent. This can be extremely high if you plan on carrying a balance from month to month. It can potentially add thousands on to your bill before you pay it off.

2. Lower Acceptance Rate

The Wells Fargo Propel card features a lower acceptance rate. It’s an American Express card. While this isn’t terrible, it’s not as widely accepted as Visa or MasterCard. You may want to bring a backup card with you in case the Amex Propel doesn’t work at your chosen vendor. The Uber credit card from Barclays is a Visa card that has much wider acceptance.

3. Credit Rating

As this is a rewards card, you need a higher credit score to qualify. Currently, you need excellent credit to get the Wells Fargo Propel card. If you don’t have it, your chances of successfully getting it are lower. This limits the pool of applicants who will apply for this card. It can negatively impact your credit score when they check it too.

4. Restrictions on Redemption

It is relatively easy to redeem your rewards, but you have to have a certain amount in points to be eligible. For ATM redemption, you need at least 2,000 points or $20. For online or phone redemption, you need 2,500 points or $25. You can’t redeem your rewards until you have at least 2,000 points in your account. This can take a while if you don’t routinely use your card.

5. Fewer Travel Perks with the Amex Propel

Other cards give you very high travel perks. It won’t entitle you to airport lounge access. You also can’t transfer your rewards to participating partners for flights or hotel stays. Additionally, there is no checked bag reimbursement by using the Wells Fargo Propel card.

Other Wells Fargo Credit Card Offers to Compare

Bottom Line Amex Propel

The Wells Fargo Propel card is a solid travel rewards card. So it has a large rewards rate of return with no annual fee. Additionally, it’s also flexible when it comes to the way you redeem your points. So if you have good or excellent credit, you should apply for this Amex Propel card.

Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.